Exchange Traded Concepts LLC Reduces Stock Position in Deere & Company (NYSE:DE)

Exchange Traded Concepts LLC decreased its position in Deere & Company (NYSE:DE) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,466 shares of the industrial products company’s stock after selling 7,367 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Deere & Company were worth $22,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Modus Advisors LLC bought a new position in Deere & Company during the 4th quarter valued at approximately $32,000. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the third quarter valued at approximately $32,000. Centennial Bank AR increased its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the period. Continuum Advisory LLC raised its holdings in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Deere & Company in the third quarter worth $47,000. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on DE shares. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Finally, Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $442.83.

Deere & Company Trading Up 0.0 %

Shares of NYSE:DE opened at $474.87 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1 year low of $340.20 and a 1 year high of $478.56. The company has a market cap of $129.33 billion, a P/E ratio of 18.58, a PEG ratio of 2.84 and a beta of 0.98. The stock’s fifty day moving average price is $435.34 and its 200-day moving average price is $404.30.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the business earned $8.26 EPS. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.